> After 100k your FICA payments taper off to nothing. That's money off the top, right into your pocket.
Since your SS benefits are also capped, it's unclear why you think that capping the taxes is wrong.
The folks who set up SS thought that the tax and payout cap was a good thing beause it kept rich people from caring about SS. If you uncap both taxes and payout, you end up paying Ross Perot $400k/year in retirement. If you uncap taxes but cap payout, rich people start caring about SS.
What is your alternative to capped payout and taxes?
FWIW, SS payouts are progressive - the less you contribute, the better your return.
Since your SS benefits are also capped, it's unclear why you think that capping the taxes is wrong.
The folks who set up SS thought that the tax and payout cap was a good thing beause it kept rich people from caring about SS. If you uncap both taxes and payout, you end up paying Ross Perot $400k/year in retirement. If you uncap taxes but cap payout, rich people start caring about SS.
What is your alternative to capped payout and taxes?
FWIW, SS payouts are progressive - the less you contribute, the better your return.